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Going Cashless – the benefits for overseas students

The government is concerned that the UK isn’t attracting enough international students, who make a significant contribution to the UK economy. Certainly British universities see the recruitment of these students as lucrative and highly competitive. Whilst international students’ perception of student satisfaction doesn’t necessarily drive their choice of institution, it does have a bearing on their decisions.

Alongside this, once these students have been successfully recruited, there is the need for universities (and colleges) to check that students meet the criteria set out in immigration rules (no organisation wants the publicity that non-compliance with visa requirements brings). Universities also need to ensure the overseas student’s smooth transition to UK campus life.

When international students arrive in the UK they can face particular challenges with regard to paying for goods and services. For example:

  • Accessing a UK bank account
  • Ease of receiving money sent by parents
  • Language difficulties
  • Problems with understanding currency conversions, calculating and counting change etc.
  • Lack of parental oversight on spending

A cashless campus solution can help

A cashless campus solution offers significant benefits to both the organisation and the international student.

For the organisation:

  • A cashless system incorporating, as a minimum, a catering and student attendance system makes compliance with visa regulations easier and more cost effective
  • Student expectations are met, many European students expect cashless, because they have had it at high school and many countries (e.g. those in the far east) are ahead of the UK on mobile phone and contactless payments
  • Support with financial management can be of great value to international students

For the overseas student:

  • There is no need to worry whether their overseas EMV card(s) will work or to get them unblocked
  • A cashless solution helps these students overcome initial language and currency difficulties during transactions (e.g. understanding POS, staff, change counting etc.)
  • Negates the need for these students to bring large amounts of cash with them to the UK
  • For overseas students who may not have a UK bank account, or may experience delays getting one, their parents overseas can load funds into the students cashless campus account, they can also monitor spending if needed.

By offering a cashless experience to international students organisations are enabling a smooth transition to campus life, making it simple and easy to manage their budgets, easing the burden of settling into new surroundings and getting familiar with a new currency as well as allowing the parents of these students to be able to add and/or control fund. They are also able to comply with visa requirements easily.

If you would like to know more about how a cashless solution can help you and your international students please call us on 01494 565066 or email us at solutions@monitorit.co.uk

 

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